What's "a Bitcoin user" in his definition? On Twitter the same guy says there are "137m users".
To put this into perspective: there are 36 million funded addresses and it's pretty safe to assume many Bitcoin users have more than one funded address. That means he counts at least 100 million "Bitcoin users" who don't own anything on-chain. Maybe he includes custodial wallets, so people speculating on Bitcoin price increases on exchanges or even Paypal nowadays, but I wouldn't call them Bitcoin users.